Recently, shaken by high-profile banking frauds, it has been directed by PNB to its office that FIRs will be filed not just against the borrowers and guarantors but also against lawyers, Chartered Accountants and valuers who act as third parties as they also have a hand in executing frauds.

Banks are taking zero stands against wilful defaulters and third parties carrying out frauds. Banks generally blacklist legal and tax professionals once they realise that they were involved in the frauds.

In M/s Globe Express Services (Overseas Group) Ltd. & Anr. Vs. M/s M.M. Cargo Container Line Pvt. Ltd. & Ors., it is ordered by NCLT, Delhi on May 21, 2018 that claims made by creditors that were not admitted by Resolution Professional during moratorium, can be admitted at liquidation stage by liquidator.

The Union cabinet recently approved the Finance Ministry’s offer of promulgating Fugitive Economic Offenders Ordinance, 2018. This will empower the authorities to attach and confiscate properties and assets of economic offenders who flee from country.

Under Fugitive Economic Offenders Act, the Enforcement Directorate filed a prosecution complaint or charge sheet against Vijay Mallya. According to the Enforcement Directorate, all attached assets of Vijay Mallya can be auctioned under this law and it can attach his properties in India and abroad.

On June 4, 2018, Ministry of Corporate Affairs sent separate letters to NCAL and NCLTs seeking to cancel their vacations to resolve pending corporate insolvency cases as there’s no provision for vacation under Rules framed in 2016. NCLAT and NCLTs responded that this matter will be further examined in July’s first week. Thus, these Courts are taking a break against the desire of Government.

Recently, in Shikha Pahuja vs, Ministry of Corporate Affairs and Anr., Delhi HC ordered that wide publicity must be given to Condonation of Delay Scheme as a lot of Companies were defaulting in filing Annual Returns or financial statement for continuous period of 3 years. It is stated that on adoption of this scheme, the concerned Registrar will withdraw all pending prosecution against them and disqualified director will be temporarily be enables to file overdue documents.

Of late on May 17, 2018, it has been declared via general circular that Director’s DIN of defaulting companies who have been removed from register of companies shall be re-activated only by NCLT order of revival when company has filed all overdue documents.

A ruling by the Mumbai NCLT, in M/s Wig Associates, Pvt. Ltd.’s case, has opened a debate as the bench as held inter alia that provisions of a November 2017 ordinance on the ineligibility of defaulting promoters to bid for their stressed firms can’t be applicable to cases where insolvency proceedings had started before its promulgation as this ruling is per contra the very objective of the explicit bar provided U/S 29A.

On May 11, 2018, Full Bench of Delhi HC settled two issues related to Partition Suit in Indu Singh & Ors. Vs. Prem Chaudhary & Ors. This judgment clarified the most awaited question of whether an order of sale of property passed in partition suit will be a final or preliminary decree and whether it will be an “Instrument of Partition” under Indian Stamp Act. It held that:

An order of Sale passed U/S 8 of Partition Act is a final decree in a partition suit and all proceedings regarding the sale will take place in execution proceedings of its final decree.

Such an order of sale is an “Instrument of Partition” U/S 2(15) of Stamp Act, 1899 and requires to be stamped accordingly with Article 45 of the Schedule.

This judgement also overruled this Court’s judgment in K.N. Khanna Vs. B.K. Khanna and Sushil Kumar Gupta Vs. Prem Gupta & Ors. | TNN | Feb 1, 2016, 02.02 AM ISTEW DELHI: The eldest female member of a family can be its “Karta”, the Delhi high court has ruled in a landmark verdict. A unique position carved out by Hindu customs and ancient texts, “Karta” denotes managership of a joint family and is traditionally inherited by men.

“If a male member of a Hindu Undivided Family (HUF), by virtue of his being the first born eldest, can be a Karta, so can a female member. The court finds no restriction in law preventing the eldest female co-parcenor of an HUF, from being its Karta,” Justice Najmi Waziri said in a judgment made public earlier this week.

The Karta occupies a position superior to that of other members and has full authority to manage property, rituals or other crucial affairs of the family. These include taking decisions on sale and purchase of family assets, mutation of property etc.

The ruling came on a suit filed by the eldest daughter of a business family in north Delhi staking claim to be its Karta on the passing of her father and three uncles. She was challenging her cousin brother.

The family consisted of four brothers, with the surviving eldest shouldering the responsibility of Karta. Trouble began when the brothers passed away. The eldest son of a younger brother declared himself to be the next Karta, but was challenged by the daughter of the eldest brother who is also the seniormost member of the family.

The term co-parcenor refers to rights derived in Hindu law to be the joint legal heir of assets in a family. Traditional Hindu view, based on treatises such as Dharmshastra and Mitakshara school of law, recognises only male inheritors to ancestral property. Amendments to the Hindu Succession Act in 2005 introduced section 6 that levelled the playing field for women.

The court termed it “rather odd” that following the amendments, “while females would have equal rights of inheritance in an HUF property, this right could nonetheless be curtailed when it comes to the management of the same”. Section 6 of Hindu Succession Act, it pointed out, did not place any restriction on women becoming the Karta.

The HC ruling is important because it takes the 2005 reform in the Act to its logical conclusion. While the amendment restricted itself to providing women equal inheritance rights, the verdict now allows them to manage property and rituals of a joint family.EW DELHI: The eldest female member of a family can be its “Karta”, the Delhi high court has ruled in a landmark verdict. A unique position carved out by Hindu customs and ancient texts, “Karta” denotes managership of a joint family and is traditionally inherited by men.

“If a male member of a Hindu Undivided Family (HUF), by virtue of his being the first born eldest, can be a Karta, so can a female member. The court finds no restriction in law preventing the eldest female co-parcenor of an HUF, from being its Karta,” Justice Najmi Waziri said in a judgment made public earlier this week.

The Karta occupies a position superior to that of other members and has full authority to manage property, rituals or other crucial affairs of the family. These include taking decisions on sale and purchase of family assets, mutation of property etc.

The ruling came on a suit filed by the eldest daughter of a business family in north Delhi staking claim to be its Karta on the passing of her father and three uncles. She was challenging her cousin brother.

The family consisted of four brothers, with the surviving eldest shouldering the responsibility of Karta. Trouble began when the brothers passed away. The eldest son of a younger brother declared himself to be the next Karta, but was challenged by the daughter of the eldest brother who is also the seniormost member of the family.

The term co-parcenor refers to rights derived in Hindu law to be the joint legal heir of assets in a family. Traditional Hindu view, based on treatises such as Dharmshastra and Mitakshara school of law, recognises only male inheritors to ancestral property. Amendments to the Hindu Succession Act in 2005 introduced section 6 that levelled the playing field for women.

The court termed it “rather odd” that following the amendments, “while females would have equal rights of inheritance in an HUF property, this right could nonetheless be curtailed when it comes to the management of the same”. Section 6 of Hindu Succession Act, it pointed out, did not place any restriction on women becoming the Karta.

The HC ruling is important because it takes the 2005 reform in the Act to its logical conclusion. While the amendment restricted itself to providing women equal inheritance rights, the verdict now allows them to manage property and rituals of a joint family.EW DELHI: The eldest female member of a family can be its “Karta”, the Delhi high court has ruled in a landmark verdict. A unique position carved out by Hindu customs and ancient texts, “Karta” denotes managership of a joint family and is traditionally inherited by men.

“If a male member of a Hindu Undivided Family (HUF), by virtue of his being the first born eldest, can be a Karta, so can a female member. The court finds no restriction in law preventing the eldest female co-parcenor of an HUF, from being its Karta,” Justice Najmi Waziri said in a judgment made public earlier this week.

The Karta occupies a position superior to that of other members and has full authority to manage property, rituals or other crucial affairs of the family. These include taking decisions on sale and purchase of family assets, mutation of property etc.

The ruling came on a suit filed by the eldest daughter of a business family in north Delhi staking claim to be its Karta on the passing of her father and three uncles. She was challenging her cousin brother.

The family consisted of four brothers, with the surviving eldest shouldering the responsibility of Karta. Trouble began when the brothers passed away. The eldest son of a younger brother declared himself to be the next Karta, but was challenged by the daughter of the eldest brother who is also the seniormost member of the family.

The term co-parcenor refers to rights derived in Hindu law to be the joint legal heir of assets in a family. Traditional Hindu view, based on treatises such as Dharmshastra and Mitakshara school of law, recognises only male inheritors to ancestral property. Amendments to the Hindu Succession Act in 2005 introduced section 6 that levelled the playing field for women.

The court termed it “rather odd” that following the amendments, “while females would have equal rights of inheritance in an HUF property, this right could nonetheless be curtailed when it comes to the management of the same”. Section 6 of Hindu Succession Act, it pointed out, did not place any restriction on women becoming the Karta.

The HC ruling is important because it takes the 2005 reform in the Act to its logical conclusion. While the amendment restricted itself to providing women equal inheritance rights, the verdict now allows them to manage property and rituals of a joint family.EW DELHI: The eldest female member of a family can be its “Karta”, the Delhi high court has ruled in a landmark verdict. A unique position carved out by Hindu customs and ancient texts, “Karta” denotes managership of a joint family and is traditionally inherited by men.

“If a male member of a Hindu Undivided Family (HUF), by virtue of his being the first born eldest, can be a Karta, so can a female member. The court finds no restriction in law preventing the eldest female co-parcenor of an HUF, from being its Karta,” Justice Najmi Waziri said in a judgment made public earlier this week.

The Karta occupies a position superior to that of other members and has full authority to manage property, rituals or other crucial affairs of the family. These include taking decisions on sale and purchase of family assets, mutation of property etc.

The ruling came on a suit filed by the eldest daughter of a business family in north Delhi staking claim to be its Karta on the passing of her father and three uncles. She was challenging her cousin brother.

The family consisted of four brothers, with the surviving eldest shouldering the responsibility of Karta. Trouble began when the brothers passed away. The eldest son of a younger brother declared himself to be the next Karta, but was challenged by the daughter of the eldest brother who is also the seniormost member of the family.

The term co-parcenor refers to rights derived in Hindu law to be the joint legal heir of assets in a family. Traditional Hindu view, based on treatises such as Dharmshastra and Mitakshara school of law, recognises only male inheritors to ancestral property. Amendments to the Hindu Succession Act in 2005 introduced section 6 that levelled the playing field for women.

The court termed it “rather odd” that following the amendments, “while females would have equal rights of inheritance in an HUF property, this right could nonetheless be curtailed when it comes to the management of the same”. Section 6 of Hindu Succession Act, it pointed out, did not place any restriction on women becoming the Karta.

The HC ruling is important because it takes the 2005 reform in the Act to its logical conclusion. While the amendment restricted itself to providing women equal inheritance rights, the verdict now allows them to manage property and rituals of a joint family.EW DELHI: The eldest female member of a family can be its “Karta”, the Delhi high court has ruled in a landmark verdict. A unique position carved out by Hindu customs and ancient texts, “Karta” denotes managership of a joint family and is traditionally inherited by men.

“If a male member of a Hindu Undivided Family (HUF), by virtue of his being the first born eldest, can be a Karta, so can a female member. The court finds no restriction in law preventing the eldest female co-parcenor of an HUF, from being its Karta,” Justice Najmi Waziri said in a judgment made public earlier this week.

The Karta occupies a position superior to that of other members and has full authority to manage property, rituals or other crucial affairs of the family. These include taking decisions on sale and purchase of family assets, mutation of property etc.

The ruling came on a suit filed by the eldest daughter of a business family in north Delhi staking claim to be its Karta on the passing of her father and three uncles. She was challenging her cousin brother.

The family consisted of four brothers, with the surviving eldest shouldering the responsibility of Karta. Trouble began when the brothers passed away. The eldest son of a younger brother declared himself to be the next Karta, but was challenged by the daughter of the eldest brother who is also the seniormost member of the family.

The term co-parcenor refers to rights derived in Hindu law to be the joint legal heir of assets in a family. Traditional Hindu view, based on treatises such as Dharmshastra and Mitakshara school of law, recognises only male inheritors to ancestral property. Amendments to the Hindu Succession Act in 2005 introduced section 6 that levelled the playing field for women.

The court termed it “rather odd” that following the amendments, “while females would have equal rights of inheritance in an HUF property, this right could nonetheless be curtailed when it comes to the management of the same”. Section 6 of Hindu Succession Act, it pointed out, did not place any restriction on women becoming the Karta.

The HC ruling is important because it takes the 2005 reform in the Act to its logical conclusion. While the amendment restricted itself to providing women equal inheritance rights, the verdict now allows them to manage property and rituals of a joint family.EW DELHI: The eldest female member of a family can be its “Karta”, the Delhi high court has ruled in a landmark verdict. A unique position carved out by Hindu customs and ancient texts, “Karta” denotes managership of a joint family and is traditionally inherited by men.

“If a male member of a Hindu Undivided Family (HUF), by virtue of his being the first born eldest, can be a Karta, so can a female member. The court finds no restriction in law preventing the eldest female co-parcenor of an HUF, from being its Karta,” Justice Najmi Waziri said in a judgment made public earlier this week.

The Karta occupies a position superior to that of other members and has full authority to manage property, rituals or other crucial affairs of the family. These include taking decisions on sale and purchase of family assets, mutation of property etc.

The ruling came on a suit filed by the eldest daughter of a business family in north Delhi staking claim to be its Karta on the passing of her father and three uncles. She was challenging her cousin brother.

The family consisted of four brothers, with the surviving eldest shouldering the responsibility of Karta. Trouble began when the brothers passed away. The eldest son of a younger brother declared himself to be the next Karta, but was challenged by the daughter of the eldest brother who is also the seniormost member of the family.

The term co-parcenor refers to rights derived in Hindu law to be the joint legal heir of assets in a family. Traditional Hindu view, based on treatises such as Dharmshastra and Mitakshara school of law, recognises only male inheritors to ancestral property. Amendments to the Hindu Succession Act in 2005 introduced section 6 that levelled the playing field for women.

The court termed it “rather odd” that following the amendments, “while females would have equal rights of inheritance in an HUF property, this right could nonetheless be curtailed when it comes to the management of the same”. Section 6 of Hindu Succession Act, it pointed out, did not place any restriction on women becoming the Karta.

The HC ruling is important because it takes the 2005 reform in the Act to its logical conclusion. While the amendment restricted itself to providing women equal inheritance rights, the verdict now allows them to manage property and rituals of a joint family.Recommended By Colombia

Justice Waziri underlined that the “impediment which prevented a female member of a HUF from becoming a Karta was that she didn’t possess the necessary qualification of co-parcenership”, but section 6, “a socially beneficial legislation”, removed that bar.

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Hindu culture is because of Woman.Nitin Desai

Justice Waziri said Section 6 gave “equal rights of inheritance to Hindu males and females, its objective is to recognise the rights of female Hindus and to enhance their rights to equality apropos succession. Therefore, courts would be extremely vigilant in any endeavor to curtail or fetter statutory guarantee of enhancement of their rights. Now that this disqualification has been removed by the 2005 amendment, there is no reason why Hindu women should be denied the position of a Karta.”

The son maintained that Hindu law recognises the right of eldest male member to be the Karta. He claimed that even the 2005 amendment recognised the rights of a female to be equal to those of a male only with respect to succession to ancestral properties, not management of estate.

Woman can be ‘karta’of a family: Delhi high court

The eldest female member of a family can be its “Karta”, the Delhi high court has ruled in a landmark verdict. A unique position carved out by Hindu customs and ancient texts, “Karta” denotes managership of a joint family and is traditionally inherited by men.

| TNN | Feb 1, 2016, 02.02 AM IST

Woman can be ‘karta’of a family: Delhi high court

The eldest female member of a family can be its “Karta”, the Delhi high court has ruled in a landmark verdict. A unique position carved out by Hindu customs and ancient texts, “Karta” denotes managership of a joint family and is traditionally inherited by men.

| TNN | Feb 1, 2016, 02.02 AM IST

EW DELHI: The eldest female member of a family can be its “Karta”, the Delhi high court has ruled in a landmark verdict. A unique position carved out by Hindu customs and ancient texts, “Karta” denotes managership of a joint family and is traditionally inherited by men.

“If a male member of a Hindu Undivided Family (HUF), by virtue of his being the first born eldest, can be a Karta, so can a female member. The court finds no restriction in law preventing the eldest female co-parcenor of an HUF, from being its Karta,” Justice Najmi Waziri said in a judgment made public earlier this week.

The Karta occupies a position superior to that of other members and has full authority to manage property, rituals or other crucial affairs of the family. These include taking decisions on sale and purchase of family assets, mutation of property etc.

The ruling came on a suit filed by the eldest daughter of a business family in north Delhi staking claim to be its Karta on the passing of her father and three uncles. She was challenging her cousin brother.

The family consisted of four brothers, with the surviving eldest shouldering the responsibility of Karta. Trouble began when the brothers passed away. The eldest son of a younger brother declared himself to be the next Karta, but was challenged by the daughter of the eldest brother who is also the seniormost member of the family.

The term co-parcenor refers to rights derived in Hindu law to be the joint legal heir of assets in a family. Traditional Hindu view, based on treatises such as Dharmshastra and Mitakshara school of law, recognises only male inheritors to ancestral property. Amendments to the Hindu Succession Act in 2005 introduced section 6 that levelled the playing field for women.

The court termed it “rather odd” that following the amendments, “while females would have equal rights of inheritance in an HUF property, this right could nonetheless be curtailed when it comes to the management of the same”. Section 6 of Hindu Succession Act, it pointed out, did not place any restriction on women becoming the Karta.

The HC ruling is important because it takes the 2005 reform in the Act to its logical conclusion. While the amendment restricted itself to providing women equal inheritance rights, the verdict now allows them to manage property and rituals of a joint family.EW DELHI: The eldest female member of a family can be its “Karta”, the Delhi high court has ruled in a landmark verdict. A unique position carved out by Hindu customs and ancient texts, “Karta” denotes managership of a joint family and is traditionally inherited by men.

“If a male member of a Hindu Undivided Family (HUF), by virtue of his being the first born eldest, can be a Karta, so can a female member. The court finds no restriction in law preventing the eldest female co-parcenor of an HUF, from being its Karta,” Justice Najmi Waziri said in a judgment made public earlier this week.

The Karta occupies a position superior to that of other members and has full authority to manage property, rituals or other crucial affairs of the family. These include taking decisions on sale and purchase of family assets, mutation of property etc.

The ruling came on a suit filed by the eldest daughter of a business family in north Delhi staking claim to be its Karta on the passing of her father and three uncles. She was challenging her cousin brother.

The family consisted of four brothers, with the surviving eldest shouldering the responsibility of Karta. Trouble began when the brothers passed away. The eldest son of a younger brother declared himself to be the next Karta, but was challenged by the daughter of the eldest brother who is also the seniormost member of the family.

The term co-parcenor refers to rights derived in Hindu law to be the joint legal heir of assets in a family. Traditional Hindu view, based on treatises such as Dharmshastra and Mitakshara school of law, recognises only male inheritors to ancestral property. Amendments to the Hindu Succession Act in 2005 introduced section 6 that levelled the playing field for women.

The court termed it “rather odd” that following the amendments, “while females would have equal rights of inheritance in an HUF property, this right could nonetheless be curtailed when it comes to the management of the same”. Section 6 of Hindu Succession Act, it pointed out, did not place any restriction on women becoming the Karta.

The HC ruling is important because it takes the 2005 reform in the Act to its logical conclusion. While the amendment restricted itself to providing women equal inheritance rights, the verdict now allows them to manage property and rituals of a joint fami

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